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ZTBL enhances credit sanctioning powers of
officers
ISLAMABAD (April 29
2004): Zarai Taraqiati Bank Limited (ZTBL) has
enhanced the sanctioning powers of Mobile Credit
Officer (MCOs) and Managers to ensure timely and
maximum disbursement of credit to farmers under
one window operation.
The production loan sanctioning power of MCOs for
general lending has been raised to Rs 0.1 million
and under revolving finance schemes (RFS) to Rs
0.2 million.
The sanctioning power of managers has been
enhanced to Rs 0.250 million under the general
loaning and Rs 0.5 million for RFS for both
seasons.
In order to facilitate the borrowers and provide
them timely credit, ZTBL has allowed automatic
renewal of RFS without any documentation, subject
to satisfactory performance with respect to
repayment of the loan.
According to modified instructions, at time of
withdrawal of loan within sanctioned time by
borrower, an amount equal to cheque presented by
him would be credited to his current account so
that the return could only be charged for amount
withdrawn by him. No renewal application fee will
be charged, said a statement.
Keeping in view the credit requirements of the
farmers, ZTBL has relaxed the prevalent
instructions, which limit disbursement to half of
the annual revolving limit.
The disbursement would now be in accordance with
the season-wise admissible limits sanctioned on
the basis of crops involved.
Respective loan sanctioning authorities are also
authorised to enhance annual revolving finance
limits of the existing borrowers on account of
revision in per acre credit ceiling.
The bank has also allowed the working capital for
fisheries under the RFS, so that this segment of
economy could also be developed.
Courtesy Business Recorder
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Pakissan.com; Advisory Point
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